Best Factoring Companies
Top rated factoring services
FactoringClub is the premier online resource for factoring companies. Every year, we select the top factoring companies based on contract terms, customer service and company leadership.
Excellent Terms
Low startup fees, short-term contracts, selective invoicing and competitive rates.
Customer Service
A solid reputation for handling clients in a friendly and professional manner with integrity.
Proven Leadership
Company leaders are experienced and engaged within the factoring industry and community.
FactoringClub Awards
Factoring Company Profiles
TAB Bank is a full-service bank in the Salt Lake City area that offers the security of a bank with the power and flexibility of a finance company. TAB provides accounts receivable financing to businesses in many different industries including freight, oilfield services, and business services. They provide online banking tools, so you can manage your credit line at anytime. You get a no-term contract, zero startup fee and you're free from minimum volume fees.
Mazon Associates is one of the oldest factoring companies in the nation. Since 1976, Mazon has delivered factoring services to more than a thousand clients. They have a reputation for friendliness and professionalism. Mazon is an industry leader in oilfield services, as well as manufacturing and business services. They don't charge a startup fee and you can cancel for any reason within 30 days.
Porter Billing provides freight factoring to any size trucking company, including large carriers all across the the United States. We offer 2-hour approvals with very competitive rates. You'll get a dedicated client manager to assist with all your needs. We also provide dispatch services, free credit checks, and online account access. We don't charge a startup fee.
FSW Funding has been delivering invoice factoring and asset based lending for businesses anywhere in the country since 2001. You get personal one-on-one attention with experienced staff. FSW delivers quick and easy approvals. You can select which invoices you want to factor with no minimum fees. Their no-term contract lets you cancel at anytime without penalty.
Provident Commercial Finance is a factoring company that provides factoring services for all business types, including trucking, business services and government contracts. You'll get exceptional customer service that is prompt and courteous. Provident offers fuel cards, free credit checks and online account access. You don't have to sign a long-term agreement or pay minimums.
Porter Capital is a financial services company based in Birmingham, Alabama that provides working capital credit lines for companies with annual revenues between $100,000 and $100,000,000 through asset-based lending and accounts receivable financing. We offer rates as low as 0.75% and advance rates as high as 90%.
Orange Commercial Credit has been providing factoring services for businesses all over the country since 1979. They serve most industries including trucking, staffing, and business services. Orange offers high advance rates, no minimum volume requirements, dedicated account representatives, same-day funding, electronic submission of invoices, online real-time reporting and free customer credit checks.
CoreFund Capital is a factoring company in the Dallas / Fort Worth area that provides freight factoring services. We have a team of professionals that have years of experience. Our top-notch customer service is evidenced by our commitment to serve you during extended hours on weekdays and Saturdays. We work with start-ups and small to medium-size carriers. We also provide intermodal transportation factoring services.
Handle.com is a construction services company that specializes in construction factoring. They provide software that helps contractors and material suppliers solve funding and late payment issues. Handle has a quick and easy approval process. They also offer purchase order financing, material trade credit, and mechanics lien purchasing.
Accounts receivable factoring
Factoring rates
Factoring companies offer rates as low as 1% for large businesses that generate millions of dollars in revenue each month. Smaller businesses can expect to pay much more in factoring fees. Rates vary from 2 to 5%, depending on monthly revenue, customer quality and invoice volume. Our award-winning companies offer competitive rates.
Freight factoring rates are very competitive. Truck factoring companies offer rates as low as 1% for the largest carriers. Owner-operators and truck companies with one to five trucks can expect to pay at least 2.5 to 3% for freight factoring services, depending on monthly volume and customers.
Advance rates
Factoring companies don’t advance the full amount of your invoices. They hold a reserve as an allowance for bad debts and unexpected short-falls. Advance rates are typically 75 to 90%, depending on your industry and business risk. You’ll find all our award-winning factoring companies advance at least 80% of your invoices.
Advance rates in the trucking industry are typically 90% or more. Some truck factoring companies offer fully-funded or 100% advance rates, in which they don’t hold any reserve when funding your freight bills. They only deduct their factoring fees from your cash advances. You’ll find all our award-winning factoring companies advance at least 95% of your freight bills.
Contract terms
Contract terms vary from one factoring company to another. Some factoring companies require you sign a contract for a year or more. A 12 month contract with annual renewals and a 60-day notice of cancellation can keep you locked into your contract unless you pay a hefty cancellation fee. You’ll find all of our award-winning factoring companies offer no-term or short-term contracts.
Some factoring companies require you factor all your invoices or require you factor a minimum amount every month. They charge you a fee if you don’t factor the minimum volume. You’ll find our award-winning factoring companies don’t charge minimum fees and let you select which customers that you want to factor.
Freight factoring companies often provide additional benefits and services such as fuel cards, repair and maintenance discounts and load boards. Many freight factoring companies offer the option of non-recourse factoring which is a credit guarantee that protects you from customer non-payment due to credit issues. Non-recourse factoring will cost more but may give you the peace of mind you need to sleep at night.
Customer service
Good factoring companies offer friendly professional service. Sales people are transparent and respectful. Account staff are helpful and responsive to your needs. You may be assigned a personal, designated account manager to handle any issues or questions you have with your invoices and customers. Our award-winning companies have solid reputations in the industry for providing good service.
Invoice factoring is a great way to finance your small business’s operating needs. You want to get paid quickly and reliably, so it’s critical you find the right factoring company. You want a business partner that understands your needs and keeps your cash flow running smoothly. Our award-winning factoring companies provide top-notch factoring services, so that your business can operate and grow successfully.
